City Council Minutes 2022 09 20 - Laserfiche WebLink

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City Council Meeting Minutes September 20, 2022 Page 8 of 11 VOTE: Motion to approve with two friendly amendments passed by unanimous voice vote. DISCUSSION/DIRECTION — CITY MANAGER'S PROPOSED 2023-2024 OPERATING & CAPITAL BUDGET, 2023-2028 CAPITAL IMPROVEMENTS PLAN, AND 2023-2028 LONG-TERM FINANCIAL PLAN — SET PUBLIC HEARING FOR 10/18/22 Mayor Stolzmann introduced the item. City Manager Jeff Durbin stated the 2022 budget did not anticipate the Marshall Fire and therefore there have been some significant challenges this year including the uncertainty of what may or may not be reimbursable costs for the $14M in damage suffered by public facilities and infrastructure. He noted the fund balance of the General Fund shows long term declines in the six -year projection and there are many unknowns including reimbursement, revenue changes, inflationary trends, and labor market challenges. In 2022, City Council approved two budget amendments recognizing decreased revenues and increased expenditures associated with the Marshall Fire and labor market conditions. The 2023 Budget is conservative in terms of new capital projects and programs, staffing levels, and revenue projections. The budget priorities include: Marshall Fire Recovery; maintaining essential operations and assets; and establishing a sustainable budget. Details are available in the meeting packet. He reviewed the budget schedule. Public Comments — None. Mayor Stolzmann noted there will be many opportunities for comment on the budget as the process moves forward. Mayor Pro Tern Maloney noted the importance of the Key Performance Indicators and the importance of those measurements for how we budget and where we spend money. He agreed we need to be conservative until we know how much we will get reimbursed for fire damages. He suggested we may want to reduce the sales tax assumptions based on recent numbers. Mayor Pro Tern Maloney noted the budget as presented is assuming full reimbursement for the $14M in fire damage but it is unlikely we get that much. He suggests a conservative approach. Mayor Pro Tern Maloney also noted this presentation assumes the Open Space and Parks Sales tax will be extended again in 2023.